First Horizon (NYSE:FHN) Upgraded at StockNews.com

StockNews.com upgraded shares of First Horizon (NYSE:FHN) from a sell rating to a hold rating in a report published on Saturday.

Several other analysts also recently commented on FHN. Raymond James downgraded First Horizon from a strong-buy rating to an outperform rating and set a $18.00 price objective for the company. in a research note on Thursday, July 18th. JPMorgan Chase & Co. increased their price objective on First Horizon from $16.00 to $17.50 and gave the stock a neutral rating in a research note on Thursday, April 4th. Wells Fargo & Company increased their price objective on First Horizon from $14.00 to $16.00 and gave the stock an equal weight rating in a research note on Wednesday, April 10th. Robert W. Baird increased their price target on First Horizon from $15.00 to $16.00 and gave the company a neutral rating in a research report on Thursday, April 18th. Finally, Wedbush reaffirmed an outperform rating and set a $17.00 price target on shares of First Horizon in a research report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Horizon has a consensus rating of Moderate Buy and an average price target of $17.31.

First Horizon Stock Up 0.2 %

FHN stock opened at $16.46 on Friday. The stock’s 50 day simple moving average is $15.55 and its 200 day simple moving average is $14.91. First Horizon has a fifty-two week low of $10.08 and a fifty-two week high of $17.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $9.00 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.89.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same period last year, the company earned $0.39 earnings per share. On average, research analysts expect that First Horizon will post 1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Horizon

Institutional investors and hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new position in First Horizon during the first quarter valued at $25,000. Raleigh Capital Management Inc. bought a new position in First Horizon during the fourth quarter valued at $28,000. Fidelis Capital Partners LLC bought a new position in First Horizon during the first quarter valued at $28,000. Fortitude Family Office LLC boosted its holdings in shares of First Horizon by 129.3% in the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,102 shares during the period. Finally, Richardson Financial Services Inc. purchased a new position in shares of First Horizon in the fourth quarter valued at $35,000. 80.28% of the stock is owned by institutional investors.

First Horizon Company Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.